"Of this, the upstream companies have been asked to make good 37.91 per cent or Rs 36,894 crore," the official said.

The government regulates rates of diesel, domestic LPG and kerosene to keep inflation under check. The revenue loss incurred by retailers on selling fuel below cost is split between the government and the oil companies.

The government has so far provided Rs 30,000 crore in cash subsidy to make up for more than half of the revenues that IOC, BPCL and HPCL lost on fuel sales during first half.

NIDHI KATARIYA

PGDM 1ST YEAR

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